Transformation of Olympus Towards Efficiency Critical Areas to Change
As an example of an initiative to increase the efficiency of
Olympus in Europe, we opened a business center in Poland in the summer of 2018 to assume all transactional tasks in the areas of Finance, Supply Chain, Sales Administration, and HR for all European subsidiaries. Standardizing and automating business processes is an important part of setting up the business center, and is common practice in excellent global companies. In that regard, Olympus should leverage the latest technology in robotics, artificial intelligence (AI), and machine learning to standardize processes and improve efficiency. But it is not only about process efficiency. The change that is so crucial for us will also be driven by strong leadership capabilities and will truly empower our people, thereby leveraging and unleashing the potential of these people and Business center in Poland the company as a whole. I firmly believe that creating an environment that inspires people and enables teams to work Stefan Kaufmann Message from the CAO efficiently should be a common goal for every company and is Director, Executive Officer and a key strategy driver. Chief Administrative Officer
Reform Cost Structure to Drive Sustainable Growth
My Appointment as CAO in April Followed a Multifaceted Business Career Spanning Numerous Roles I am responsible for managing the selling, general and administrative (SG&A) expenses in the 2020 fiscal year. Our Prior to joining Olympus in 2003 as European Head of HR, I functions and I became a member of the European Board, as SG&A expenses to sales ratio was 55% in 2019. We cannot worked in various HR functions at a leading retailer and at a well as Czech Republic’s Managing Director from 2009-2011. expect to achieve sustainable growth with such a high cost major travel operator. It was Olympus that provided me with my Following my appointment to the position of CEO for ratio. In the context of globalization and digitization, high costs first opportunity to be fully accountable for a firm’s HR function, the EMEA region in 2011, I became Corporate Officer in make necessary investment difficult, but a healthy financial in this case for the European territory. But I was also given the 2017. Then, in April 2019, I was assigned the role of Chief performance will allow Olympus to remain independent and opportunity to broaden my areas of responsibility. Very quickly Administrative Officer (CAO), which is the position I hold today invest in new technologies for growth. Efficient processes and my role expanded to include other corporate functions. in addition to my Board membership. an outstanding product portfolio are important for our success. In 2008, I was appointed Managing Director Corporate I am convinced of the potential that Olympus has. I believe Division. My responsibilities grew to include all corporate that what we do over the next three to five years can make a significant contribution to transform Olympus into a truly global medtech company. It’s the responsibility of management to pave the way for realizing this potential and to ensure Leverage Experience and Know-How sustainable development. I am confident that Olympus is a company that is poised to lead the way in the coming century by providing our customers with excellent products that are As CAO, with responsibility for HR, IT, Supply Chain Having been surrounded by this diversity I have accumulated a developed, produced, and marketed efficiently. Management, and Transform Olympus , I strategically support great deal of experience over the years, in this regard. I believe initiatives that contribute to the company’s efficiency and thus the experience and know-how I have gained can be put to use to its sustainable growth. I am deeply convinced that process anywhere in the world and will be instrumental in our efforts to efficiency is the backbone of a high-performance enterprise. become a truly global medtech company. My European experience is of immense value as Europe can be seen as being a microcosm of the world. There are different countries, languages, and cultures that need to be addressed.